Common use of Payment Trigger and Timing Clause in Contracts

Payment Trigger and Timing. If a Termination Event After a Change in Control (as defined in Section 4) occurs, Executive will receive a salary continuation payment ("Salary Continuation Payment"). Unless limited below, the Salary Continuation Payment will equal the Regular Salary Continuation Payment plus the Bonus Continuation Payment. The Company will pay this Salary Continuation Payment to Executive on the later of (i) the date Executive's employment terminates or (ii) the date the Change in Control occurs.

Payment Trigger and Timing. If a Termination Event After a Change in Control (as defined in Section 4) occurs, Executive will receive a salary continuation payment ("Salary Continuation Payment"). , Unless limited below, the Salary Continuation Payment will equal the Regular Salary Continuation Payment plus the Bonus Continuation Payment. The Company will pay this Salary Continuation Payment to Executive on the later of (i) the date Executive's employment terminates or (ii) the date the Change in Control occurs.